London, 15 March 2016: Technavio, the independent tech-focused global research firm, has published a report on the global video surveillance as a service market, which is expected to grow at an impressive CAGR of around 28% during the forecast period of 2016 to 2020.
Market overview of the global VSaaS market
Source: Technavio
The rising demand for high-resolution imaging will aid in the strong growth of this market during the forecast period. Video surveillance with the help of high-resolution imaging cameras helps enterprises to keep a better watch on their premises. The images recorded with the help of these advanced cameras can be analyzed to identify criminal intent or catch criminals after a crime has been committed. This recent increase in the need for high-resolution imaging will aid in the growth of this market during the estimated period.
“The development of edge-based video surveillance technology has helped vendors to fill the gap between a limited budget and the need for high-resolution video surveillance cameras. In edge-based video surveillance, the high-resolution footage is saved either on the network or on flash devices. This is advantageous for the cost-conscious customers as the cost of a central recording system reduces drastically with the help of this technology,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
“Another significant trend in this market is the advent of thermal cameras. Though these cameras are expensive, they are heat- and water-resistant and are ideal for monitoring large-scale or unique outdoor environments. The adoption of this technology has become more prevalent because of increased government grants for the purchase of surveillance equipment. As most criminal activities are attempted in the cover of darkness, thermal security cameras make an excellent adjunct to complete surveillance systems.”
Key market drivers –
- Demand for high-resolution imaging
- Adoption of internet protocol (IP) cameras
- System integration
- Need for better security measures
- Need for real-time access and centralized data management
Key market trends –
- Edge-based video surveillance
- Need for customized solutions
- Emergence of advanced technologies
- Introduction of thermal cameras
- Adoption in commercial buildings
- Video surveillance in educational institutes
Key market vendors –
- Axis Communications
- Bosch Security Systems
- Cisco Systems
- Hikvision Digital Technology
- Honeywell Security
- Panasonic
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Video Surveillance as a Service (VSaaS) Market 2016-2020, please send an e-mail to media@TechNavio.com.
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